Board of Directors Authorizes $1.0 Billion Increase in Its Stock Repurchase Program
Revenue elevated 9% to $2.4 billion
Comparable gross sales elevated 4%, or 3% on a relentless greenback foundation
Diluted EPS of $2.87
VANCOUVER, British Columbia–(BUSINESS WIRE)–
lululemon athletica inc. (NASDAQ:LULU) immediately introduced monetary outcomes for the third quarter of fiscal 2024, which ended on October 27, 2024.
Calvin McDonald, Chief Executive Officer, acknowledged: “Our efficiency within the third quarter exhibits the enduring energy of lululemon globally, as we noticed continued momentum throughout our worldwide markets and in Canada. Looking to the long run, we’re happy with the begin to our vacation season, and we stay targeted on accelerating our U.S. enterprise and rising our model consciousness world wide. Thank you to our devoted groups for persevering with to ship for our company and stakeholders.”
The adjusted non-GAAP monetary measures under exclude asset impairment and different fees acknowledged in relation to lululemon Studio throughout the third quarter of 2023, and the associated earnings tax results of these things.
For the third quarter of 2024, in comparison with the third quarter of 2023:
-
Net income elevated 9% to $2.4 billion, or elevated 8% on a relentless greenback foundation.
- Americas internet income elevated 2%.
- International internet income elevated 33%, or 30% on a relentless greenback foundation.
-
Comparable gross sales elevated 4%, or 3% on a relentless greenback foundation.
- Americas comparable gross sales decreased 2%.
- International comparable gross sales elevated 25%, or 22% on a relentless greenback foundation.
- Gross revenue elevated 12% to $1.4 billion. Adjusted gross revenue elevated 9%.
- Gross margin elevated 150 foundation factors to 58.5%. Adjusted gross margin elevated 40 foundation factors.
- Income from operations elevated 45% to $490.7 million. Adjusted earnings from operations elevated 12%.
- Operating margin elevated 520 foundation factors to twenty.5%. Adjusted working margin elevated 70 foundation factors.
- The efficient earnings tax charge for the third quarter of 2024 was 30.2% in comparison with 28.5% for the third quarter of 2023. The adjusted efficient tax charge was 28.1% for the third quarter of 2023.
- Diluted earnings per share have been $2.87 in comparison with $1.96 within the third quarter of 2023. Adjusted diluted earnings per share have been $2.53 within the third quarter of 2023.
- The Company added 28 new company-operated shops throughout the third quarter, together with 14 company-operated shops from the acquisition of the Mexico operations, ending with 749 shops.
Meghan Frank, Chief Financial Officer, acknowledged: “Our third quarter outcomes, which exceeded our expectations, reveal the power of our groups to be agile in a dynamic working atmosphere. With nearly all of the fourth quarter nonetheless in entrance of us, we’re targeted on deepening engagement with our company and bringing new shoppers into the model. We are dedicated to delivering on our Power of Three ×2 income goal of $12.5 billion in 2026 and sit up for all that lies forward.”
Stock Repurchase Program
During the third quarter of 2024, the Company repurchased 1.6 million shares of its frequent inventory for a price of $408.5 million.
On December 3, 2024, the board of administrators accredited a $1.0 billion enhance to the Company’s inventory repurchase program. Including this enhance, as of December 5, 2024, the Company had roughly $1.8 billion remaining approved on its inventory repurchase program.
Balance Sheet Highlights
The Company ended the third quarter of 2024 with $1.2 billion in money and money equivalents and the capability below its dedicated revolving credit score facility was $393.5 million.
Inventories on the finish of the third quarter of 2024 elevated 8% to $1.8 billion in comparison with $1.7 billion on the finish of the third quarter of 2023.
2024 Outlook
For the fourth quarter of 2024, the Company expects internet income to be within the vary of $3.475 billion to $3.510 billion, representing progress of 8% to 10%, or 3% to 4% excluding the 53rd week of 2024. Diluted earnings per share are anticipated to be within the vary of $5.56 to $5.64 for the quarter. This assumes a tax charge of roughly 29.5%.
For 2024, the Company now expects internet income to be within the vary of $10.452 billion to $10.487 billion, representing progress of 9%, or 7% excluding the 53rd week of 2024. Diluted earnings per share at the moment are anticipated to be within the vary of $14.08 to $14.16 for the yr. This assumes a tax charge of roughly 30%.
The steerage doesn’t replicate potential future repurchases of the Company’s shares.
The steerage and outlook forward-looking statements made on this press launch are primarily based on administration’s expectations as of the date of this press launch and don’t incorporate future unknown impacts, together with macroeconomic developments. The Company undertakes no responsibility to replace or to proceed to offer info with respect to any forward-looking statements or danger components, whether or not because of new info or future occasions or circumstances or in any other case. Actual outcomes and the timing of occasions may differ materially from these anticipated in these forward-looking statements because of dangers and uncertainties, together with these acknowledged under.
Power of Three ×2
The Company’s Power of Three ×2 progress plan requires a doubling of the enterprise from 2021 internet income of $6.25 billion to $12.5 billion by 2026. The key pillars of the plan are product innovation, visitor expertise, and market growth.
Conference Call Information
A convention name to debate third quarter outcomes is scheduled for immediately, December 5, 2024, at 4:30 p.m. Eastern time. Those curious about taking part within the name are invited to dial 1-844-763-8274 or 1-647-484-8814, if calling internationally, roughly 10 minutes previous to the beginning of the decision. A stay webcast of the convention name will likely be accessible on-line at: https://company.lululemon.com/traders/news-and-events/events-and-presentations. A replay will likely be made accessible on-line roughly two hours following the stay name for a interval of 30 days.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a technical athletic attire, footwear, and equipment firm for yoga, operating, coaching, and most different actions, creating transformational merchandise and experiences that construct significant connections, unlocking better risk and wellbeing for all. Setting the bar in innovation of materials and useful designs, lululemon works with yogis and athletes in native communities world wide for steady analysis and product suggestions. For extra info, go to lululemon.com.
Non-GAAP Financial Measures
Constant greenback modifications and adjusted monetary outcomes are non-GAAP monetary measures.
A relentless greenback foundation assumes the common international forex change charges for the interval remained fixed with the common international forex change charges for a similar interval of the prior yr. The Company gives fixed greenback modifications in its outcomes to assist traders perceive the underlying progress charge of internet income excluding the impression of modifications in international forex change charges.
Adjusted gross revenue, gross margin, earnings from operations, working margin, earnings tax expense, efficient tax charges, internet earnings, and diluted earnings per share exclude sure stock provisions, asset impairments, and restructuring prices acknowledged in relation to lululemon Studio, and the associated earnings tax results of these things. The Company believes these adjusted monetary measures are helpful to traders as they supply supplemental info that allow analysis of the underlying pattern in its working efficiency, and allow a comparability to its historic monetary info. Further, as a result of finite and discrete nature of these things, it doesn’t contemplate them to be regular working bills which are essential to run the enterprise, or impairments or disposal positive factors which are anticipated to come up within the regular course of its operations.
Management makes use of these adjusted monetary measures and fixed forex metrics internally when reviewing and assessing monetary efficiency.
The Company’s fiscal yr ends on the Sunday closest to January thirty first of the next yr, usually leading to a 52-week yr, however sometimes giving rise to an extra week, leading to a 53-week yr. Fiscal 2023 was a 52-week yr whereas 2024 will likely be a 53-week yr. The anticipated internet income enhance excluding the 53rd week excludes the anticipated internet income for the 53rd week of 2024. This permits an analysis of the anticipated year-over-year enhance in internet income primarily based on 52 weeks in annually.
The presentation of this monetary info isn’t meant to be thought-about in isolation or as an alternative choice to, or with better prominence to, the monetary info ready and offered in accordance with GAAP. For extra info on these non-GAAP monetary measures, please see the part captioned “Reconciliation of Non-GAAP Financial Measures” included within the accompanying monetary tables, which incorporates extra element on the GAAP monetary measure that’s most straight comparable to every non-GAAP monetary measure, and the associated reconciliations between these monetary measures. The Company’s non-GAAP monetary measures could also be calculated otherwise from, and subsequently is probably not straight similar to, equally titled measures reported by different corporations.
Forward-Looking Statements:
This press launch contains estimates, projections, statements referring to the Company’s enterprise plans, targets, and anticipated working outcomes which are “forward-looking statements” throughout the which means of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In many instances, you possibly can establish forward-looking statements by phrases akin to “could,” “will,” “ought to,” “expects,” “plans,” “anticipates,” “outlook,” “believes,” “intends,” “estimates,” “predicts,” “potential” or the damaging of those phrases or different comparable terminology. These forward-looking statements additionally embody the Company’s steerage and outlook statements. These statements are primarily based on administration’s present expectations however they contain various dangers and uncertainties. Actual outcomes and the timing of occasions may differ materially from these anticipated within the forward-looking statements because of dangers and uncertainties, which embody, with out limitation: the Company’s means to take care of the worth and popularity of its model; modifications in client purchasing preferences and shifts in distribution channels; the acceptability of its merchandise to company; its extremely aggressive market and rising competitors; rising prices and reducing promoting costs; its means to anticipate client preferences and efficiently develop and introduce new, revolutionary and up to date merchandise; its means to precisely forecast visitor demand for its merchandise; its means to develop in gentle of its restricted working expertise and restricted model recognition in new worldwide markets and new product classes; its means to handle its progress and the elevated complexity of its enterprise successfully; its means to efficiently open new retailer areas in a well timed method; seasonality; disruptions of its provide chain; its reliance on a comparatively small variety of distributors to provide and manufacture a good portion of its merchandise; suppliers or producers not complying with its Vendor Code of Ethics or relevant legal guidelines; its means to ship its merchandise to the market and to satisfy visitor expectations if it has issues with its distribution system; rising labor prices and different components related to the manufacturing of its merchandise in South Asia and South East Asia; its means to safeguard in opposition to safety breaches with respect to its know-how methods; its compliance with privateness and information safety legal guidelines; any materials disruption of its info methods; its means to have technology-based methods operate successfully and develop its e-commerce enterprise globally; local weather change, and associated legislative and regulatory responses; elevated scrutiny concerning its environmental, social, and governance, or sustainability obligations; an financial recession, despair, or downturn or financial uncertainty in its key markets; world or regional well being occasions such because the COVID-19 pandemic and associated authorities, personal sector, and particular person client responsive actions; world financial and political situations; its means to supply and promote its merchandise profitably or in any respect if new commerce restrictions are imposed or current commerce restrictions turn into extra burdensome; modifications in tax legal guidelines or unanticipated tax liabilities; its means to adjust to commerce and different laws; fluctuations in international forex change charges; imitation by its rivals; its means to guard its mental property rights; conflicting emblems and patents and the prevention of sale of sure merchandise; its publicity to varied kinds of litigation; and different dangers and uncertainties set out in filings made every so often with the United States Securities and Exchange Commission and accessible at www.sec.gov, together with, with out limitation, its most up-to-date reviews on Form 10-Okay and Form 10-Q. You are urged to contemplate these components fastidiously in evaluating the forward-looking statements contained herein and are cautioned to not place undue reliance on such forward-looking statements, that are certified of their entirety by these cautionary statements. The forward-looking statements made herein converse solely as of the date of this press launch and the Company undertakes no obligation to publicly replace such forward-looking statements to replicate subsequent occasions or circumstances, besides as could also be required by regulation.
lululemon athletica inc.
The fiscal yr ending February 2, 2025 is known as “2024” and the fiscal yr ended January 28, 2024 is known as “2023”.
Condensed Consolidated Statements of Operations
Unaudited; Expressed in hundreds, besides per share quantities
|
|
|
Third Quarter |
|
First Three Quarters |
||||||||||||
|
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
Net income |
|
$ |
2,396,660 |
|
|
$ |
2,204,218 |
|
|
$ |
6,976,629 |
|
|
$ |
6,414,175 |
|
|
Costs of products offered |
|
|
995,054 |
|
|
|
947,554 |
|
|
|
2,887,770 |
|
|
|
2,708,195 |
|
|
Gross revenue |
|
|
1,401,606 |
|
|
|
1,256,664 |
|
|
|
4,088,859 |
|
|
|
3,705,980 |
|
|
As a proportion of internet income |
|
|
58.5 |
% |
|
|
57.0 |
% |
|
|
58.6 |
% |
|
|
57.8 |
% |
|
Selling, common and administrative bills |
|
|
909,827 |
|
|
|
842,795 |
|
|
|
2,624,212 |
|
|
|
2,407,683 |
|
|
As a proportion of internet income |
|
|
38.0 |
% |
|
|
38.2 |
% |
|
|
37.6 |
% |
|
|
37.5 |
% |
|
Impairment of belongings and restructuring prices |
|
|
— |
|
|
|
74,501 |
|
|
|
— |
|
|
|
74,501 |
|
|
Amortization of intangible belongings |
|
|
1,118 |
|
|
|
1,253 |
|
|
|
1,118 |
|
|
|
5,010 |
|
|
Income from operations |
|
|
490,661 |
|
|
|
338,115 |
|
|
|
1,463,529 |
|
|
|
1,218,786 |
|
|
As a proportion of internet income |
|
|
20.5 |
% |
|
|
15.3 |
% |
|
|
21.0 |
% |
|
|
19.0 |
% |
|
Other earnings (expense), internet |
|
|
13,743 |
|
|
|
9,842 |
|
|
|
55,020 |
|
|
|
25,229 |
|
|
Income earlier than earnings tax expense |
|
|
504,404 |
|
|
|
347,957 |
|
|
|
1,518,549 |
|
|
|
1,244,015 |
|
|
Income tax expense |
|
|
152,534 |
|
|
|
99,243 |
|
|
|
452,336 |
|
|
|
363,293 |
|
|
Net earnings |
|
$ |
351,870 |
|
|
$ |
248,714 |
|
|
$ |
1,066,213 |
|
|
$ |
880,722 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Basic earnings per share |
|
$ |
2.87 |
|
|
$ |
1.97 |
|
|
$ |
8.57 |
|
|
$ |
6.94 |
|
|
Diluted earnings per share |
|
$ |
2.87 |
|
|
$ |
1.96 |
|
|
$ |
8.55 |
|
|
$ |
6.92 |
|
|
Basic weighted-average shares excellent |
|
|
122,697 |
|
|
|
126,460 |
|
|
|
124,471 |
|
|
|
126,892 |
|
|
Diluted weighted-average shares excellent |
|
|
122,803 |
|
|
|
126,770 |
|
|
|
124,668 |
|
|
|
127,218 |
|
lululemon athletica inc.
Condensed Consolidated Balance Sheets
Unaudited; Expressed in hundreds
|
|
|
October 27, |
|
January 28, |
|
October 29, |
|||
|
ASSETS |
|
|
|
|
|
|
|||
|
Current belongings |
|
|
|
|
|
|
|||
|
Cash and money equivalents |
|
$ |
1,188,419 |
|
$ |
2,243,971 |
|
$ |
1,091,138 |
|
Inventories |
|
|
1,800,893 |
|
|
1,323,602 |
|
|
1,663,617 |
|
Prepaid and receivable earnings taxes |
|
|
257,388 |
|
|
183,733 |
|
|
300,258 |
|
Other present belongings |
|
|
358,589 |
|
|
309,271 |
|
|
309,886 |
|
Total present belongings |
|
|
3,605,289 |
|
|
4,060,577 |
|
|
3,364,899 |
|
Property and tools, internet |
|
|
1,697,759 |
|
|
1,545,811 |
|
|
1,413,918 |
|
Right-of-use lease belongings |
|
|
1,360,589 |
|
|
1,265,610 |
|
|
1,048,607 |
|
Goodwill and intangible belongings, internet |
|
|
178,185 |
|
|
24,083 |
|
|
23,912 |
|
Deferred earnings taxes and different non-current belongings |
|
|
241,847 |
|
|
195,860 |
|
|
170,928 |
|
Total belongings |
|
$ |
7,083,669 |
|
$ |
7,091,941 |
|
$ |
6,022,264 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|||
|
Current liabilities |
|
|
|
|
|
|
|||
|
Accounts payable |
|
$ |
385,960 |
|
$ |
348,441 |
|
$ |
309,324 |
|
Accrued liabilities and different |
|
|
561,615 |
|
|
348,555 |
|
|
392,949 |
|
Accrued compensation and associated bills |
|
|
190,169 |
|
|
326,110 |
|
|
250,479 |
|
Current lease liabilities |
|
|
290,368 |
|
|
249,270 |
|
|
217,138 |
|
Current earnings taxes payable |
|
|
96,808 |
|
|
12,098 |
|
|
27,231 |
|
Unredeemed reward card legal responsibility |
|
|
238,327 |
|
|
306,479 |
|
|
213,256 |
|
Other present liabilities |
|
|
40,286 |
|
|
40,308 |
|
|
37,737 |
|
Total present liabilities |
|
|
1,803,533 |
|
|
1,631,261 |
|
|
1,448,114 |
|
Non-current lease liabilities |
|
|
1,223,733 |
|
|
1,154,012 |
|
|
950,954 |
|
Non-current earnings taxes payable |
|
|
— |
|
|
15,864 |
|
|
15,864 |
|
Deferred earnings tax legal responsibility |
|
|
33,231 |
|
|
29,522 |
|
|
53,833 |
|
Other non-current liabilities |
|
|
37,440 |
|
|
29,201 |
|
|
27,650 |
|
Stockholders’ fairness |
|
|
3,985,732 |
|
|
4,232,081 |
|
|
3,525,849 |
|
Total liabilities and stockholders’ fairness |
|
$ |
7,083,669 |
|
$ |
7,091,941 |
|
$ |
6,022,264 |
lululemon athletica inc.
Condensed Consolidated Statements of Cash Flows
Unaudited; Expressed in hundreds
|
|
|
First Three Quarters |
||||||
|
|
|
|
2024 |
|
|
|
2023 |
|
|
Cash flows from working actions |
|
|
|
|
||||
|
Net earnings |
|
$ |
1,066,213 |
|
|
$ |
880,722 |
|
|
Adjustments to reconcile internet earnings to internet money offered by working actions |
|
|
(194,890 |
) |
|
|
31,344 |
|
|
Net money offered by working actions |
|
|
871,323 |
|
|
|
912,066 |
|
|
Net money utilized in investing actions |
|
|
(575,214 |
) |
|
|
(445,325 |
) |
|
Net money utilized in financing actions |
|
|
(1,328,510 |
) |
|
|
(510,583 |
) |
|
Effect of international forex change charge modifications on money and money equivalents |
|
|
(23,151 |
) |
|
|
(19,887 |
) |
|
Decrease in money and money equivalents |
|
|
(1,055,552 |
) |
|
|
(63,729 |
) |
|
Cash and money equivalents, starting of interval |
|
|
2,243,971 |
|
|
|
1,154,867 |
|
|
Cash and money equivalents, finish of interval |
|
$ |
1,188,419 |
|
|
$ |
1,091,138 |
|
lululemon athletica inc.
Reconciliation of Non-GAAP Financial Measures
Unaudited; Expressed in hundreds, besides per share quantities
Constant greenback modifications
The under modifications present the change for the third quarter of 2024 in comparison with the third quarter of 2023.
|
|
|
Net Revenue |
|||||||
|
|
|
Change |
|
Foreign |
|
Change in |
|||
|
United States |
|
— |
% |
|
— |
% |
|
— |
% |
|
Canada |
|
9 |
|
|
— |
|
|
9 |
|
|
Mexico(1) |
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
Americas |
|
2 |
|
|
— |
|
|
2 |
|
|
|
|
|
|
|
|
|
|||
|
China Mainland |
|
39 |
|
|
(3 |
) |
|
36 |
|
|
Rest of World |
|
27 |
|
|
(4 |
) |
|
23 |
|
|
Total worldwide |
|
33 |
|
|
(3 |
) |
|
30 |
|
|
|
|
|
|
|
|
|
|||
|
Total |
|
9 |
% |
|
(1 |
)% |
|
8 |
% |
|
|
|
Comparable Sales(2) |
|||||||
|
|
|
Change |
|
Foreign |
|
Change in |
|||
|
Americas |
|
(2 |
)% |
|
— |
% |
|
(2 |
)% |
|
|
|
|
|
|
|
|
|||
|
China Mainland |
|
27 |
|
|
(3 |
) |
|
24 |
|
|
Rest of World |
|
23 |
|
|
(3 |
) |
|
20 |
|
|
Total worldwide |
|
25 |
|
|
(3 |
) |
|
22 |
|
|
|
|
|
|
|
|
|
|||
|
Total |
|
4 |
% |
|
(1 |
)% |
|
3 |
% |
|
__________ |
|
|
(1) |
On September 10, 2024, the Company acquired the lululemon branded retail areas and operations run by a 3rd celebration in Mexico. Wholesale gross sales to the third celebration by lululemon athletica canada inc. previous to the acquisition are disclosed as internet income acknowledged inside Canada. |
|
(2) |
Comparable gross sales contains comparable company-operated retailer and e-commerce internet income. Comparable company-operated shops have been open for a minimum of 12 full fiscal months, or open for a minimum of 12 full fiscal months after being considerably expanded. Comparable company-operated shops exclude shops which have been briefly relocated for renovations or have been briefly closed. |
Adjusted monetary measures
The following tables reconcile adjusted 2023 monetary measures with probably the most straight comparable measures calculated in accordance with GAAP. The changes relate to sure stock provisions, asset impairments, and restructuring prices acknowledged in relation to lululemon Studio and their associated tax results. Please seek advice from Note 4. Impairment of Assets and Restructuring Costs included in Item 1 of Part I of the Company’s Report on Form 10-Q to be filed with the SEC on or about December 5, 2024 for additional info on the character of those quantities.
|
|
|
Third Quarter 2023 |
||||||||||||||||||||||||
|
|
|
Gross Profit |
|
Gross |
|
Income |
|
Operating |
|
Income Tax |
|
Effective |
|
Net Income |
|
Diluted |
||||||||||
|
GAAP outcomes |
|
$ |
1,256,664 |
|
57.0 |
% |
|
$ |
338,115 |
|
15.3 |
% |
|
$ |
99,243 |
|
28.5 |
% |
|
$ |
248,714 |
|
|
$ |
1.96 |
|
|
lululemon Studio fees: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
lululemon Studio obsolescence provision |
|
|
23,709 |
|
1.1 |
|
|
|
23,709 |
|
1.1 |
|
|
|
|
|
|
|
23,709 |
|
|
|
0.19 |
|
||
|
Impairment of belongings |
|
|
|
|
|
|
44,186 |
|
2.0 |
|
|
|
|
|
|
|
44,186 |
|
|
|
0.35 |
|
||||
|
Restructuring prices |
|
|
|
|
|
|
30,315 |
|
1.4 |
|
|
|
|
|
|
|
30,315 |
|
|
|
0.24 |
|
||||
|
Tax impact of the above |
|
|
|
|
|
|
|
|
|
|
26,085 |
|
(0.4 |
) |
|
|
(26,085 |
) |
|
|
(0.21 |
) |
||||
|
|
|
|
23,709 |
|
1.1 |
|
|
|
98,210 |
|
4.5 |
|
|
|
26,085 |
|
(0.4 |
) |
|
|
72,125 |
|
|
|
0.57 |
|
|
Adjusted outcomes (non-GAAP) |
|
$ |
1,280,373 |
|
58.1 |
% |
|
$ |
436,325 |
|
19.8 |
% |
|
$ |
125,328 |
|
28.1 |
% |
|
$ |
320,839 |
|
|
$ |
2.53 |
|
|
|
|
First Three Quarters 2023 |
||||||||||||||||||||||||
|
|
|
Gross Profit |
|
Gross |
|
Income |
|
Operating |
|
Income Tax |
|
Effective |
|
Net Income |
|
Diluted |
||||||||||
|
GAAP outcomes |
|
$ |
3,705,980 |
|
57.8 |
% |
|
$ |
1,218,786 |
|
19.0 |
% |
|
$ |
363,293 |
|
29.2 |
% |
|
$ |
880,722 |
|
|
$ |
6.92 |
|
|
lululemon Studio fees: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
lululemon Studio obsolescence provision |
|
|
23,709 |
|
0.3 |
|
|
|
23,709 |
|
0.3 |
|
|
|
|
|
|
|
23,709 |
|
|
|
0.19 |
|
||
|
Impairment of belongings |
|
|
|
|
|
|
44,186 |
|
0.7 |
|
|
|
|
|
|
|
44,186 |
|
|
|
0.35 |
|
||||
|
Restructuring prices |
|
|
|
|
|
|
30,315 |
|
0.5 |
|
|
|
|
|
|
|
30,315 |
|
|
|
0.24 |
|
||||
|
Tax impact of the above |
|
|
|
|
|
|
|
|
|
|
26,085 |
|
(0.2 |
) |
|
|
(26,085 |
) |
|
|
(0.21 |
) |
||||
|
|
|
|
23,709 |
|
0.3 |
|
|
|
98,210 |
|
1.5 |
|
|
|
26,085 |
|
(0.2 |
) |
|
|
72,125 |
|
|
|
0.57 |
|
|
Adjusted outcomes (non-GAAP) |
|
$ |
3,729,689 |
|
58.1 |
% |
|
$ |
1,316,996 |
|
20.5 |
% |
|
$ |
389,378 |
|
29.0 |
% |
|
$ |
952,847 |
|
|
$ |
7.49 |
|
Expected internet income enhance excluding the 53rd week
The Company’s fiscal yr ends on the Sunday closest to January thirty first of the next yr, usually leading to a 52-week yr, however sometimes giving rise to an extra week, leading to a 53-week yr. Fiscal 2023 was a 52-week yr whereas 2024 will likely be a 53-week yr.
|
|
|
Fourth Quarter 2024 |
|
Fiscal 2024 |
|
Expected internet income enhance |
|
8% to 10% |
|
9% |
|
Impact of 53rd week |
|
(5)% to (6)% |
|
(2)% |
|
Expected internet income enhance excluding the 53rd week (non-GAAP) |
|
3% to 4% |
|
7% |
lululemon athletica inc.
Company-operated Store Count and Square Footage(1)
Square footage expressed in hundreds
|
|
|
Number of |
|
Number of |
|
Number of |
|
Number of |
|
4th Quarter 2023 |
|
686 |
|
26 |
|
1 |
|
711 |
|
1st Quarter 2024 |
|
711 |
|
5 |
|
5 |
|
711 |
|
2nd Quarter 2024 |
|
711 |
|
11 |
|
1 |
|
721 |
|
3rd Quarter 2024 |
|
721 |
|
28 |
|
— |
|
749 |
|
|
|
Total Gross |
|
Gross Square |
|
Gross Square |
|
Total Gross |
|
4th Quarter 2023 |
|
2,797 |
|
173 |
|
3 |
|
2,967 |
|
1st Quarter 2024 |
|
2,967 |
|
35 |
|
14 |
|
2,988 |
|
2nd Quarter 2024 |
|
2,988 |
|
90 |
|
3 |
|
3,075 |
|
3rd Quarter 2024 |
|
3,075 |
|
156 |
|
— |
|
3,231 |
|
__________ |
|
|
(1) |
Company-operated retailer depend and sq. footage abstract excludes retail areas operated by third events below license and provide preparations. |
|
(2) |
Gross sq. toes added/misplaced throughout the quarter contains internet sq. foot additions for company-operated shops which have been renovated or relocated within the quarter. |
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20241205433612/en/
Investor Contacts:
lululemon athletica inc.
Howard Tubin
1-604-732-6124
or
ICR, Inc.
Joseph Teklits/Caitlin Churchill
1-203-682-8200
Media Contact:
lululemon athletica inc.
Madi Wallace
1-604-732-6124
Source: lululemon athletica inc.
